Leading car-classified website in Bangladesh Motor-bazar was recently acquired by Garirbazar by AsiaCar Group.
Leading car-classified website in Bangladesh Motor-bazar was recently acquired by Garirbazar, one of the largest online automotive portals in the country. The two leading automotive portals have combined to become more dominant powerhouse in the online car classifieds marketplace of Bangladesh.
Motor-bazar and Garirbazar both operated independently as online marketplaces in the Bangladesh automotive sector providing locals an online portal to buy and sell automotives and adjacent services and products.
Garirbazar is backed by global internet company AsiaCar Group which has investments in over 19 Asian countries including Bhutan, Nepal, Myanmar to name a few. AsiaCar Group’s investment in Garirbazar and Motor-bazar is a testament of Bangladesh’s flourishing technology start-up sector.
AsiaCar Group’s CEO and Co-Founder, Fredrik Orrenius mentioned “Bangladesh is a key strategic investment for us due to the country’s strong economic growth, quality of talented young people and Bangladesh’s entrepreneurial culture and resilience. Garirbazar is perfectly positioned to take advantage of this Bangladesh online marketplace opportunity.”
The two companies came to the same realisation that Bangladeshi consumers clearly lacked variety and choice to compare the best prices and quality of cars offered by various motor dealers. By joining forces, the combined website will now offer greater variety of quality cars, bikes, trucks and auto-parts and consumers will benefit from better prices and choice.
The combined entity is registered locally in Bangladesh under the name Tiger Digital Ventures (TDV). TDV has already secured two relationships with two local financial institutions and over 100 car dealerships in Bangladesh.
Co-Founder of Motor-Bazar, Sabil Chowdhury commented “TDV’s local profile with local domain names, content, languages, and social media has proven to be key for higher reach and higher engagement”.
TDV will continue to operate www.garirbazar.com and redirect traffic from Motor-Bazar.com to Garirbazar to become the premier “one-stop shop” for all automotive products, services and needs in Bangladesh.